Tuesday, July 21, 2009

Stephen Baldwin: Bankrupt

Actor Stephen Baldwin, pictured above with his daughter shopping last week in Hollywood, filed for bankruptcy in New York on Tuesday, according to a court document that says he is millions in debt.

The 43-year-old actor filed for Chapter 11 protection claiming he owes more than $2.3 million and owns a New York property valued at only $1.1 million. His wife, Kennya Baldwin, also is named in the document.

Baldwin owes about $1.2 million on two mortgages on the New York property and more than $1 million in taxes. He also has credit card debt, court papers showed.